July 17, 2013 / 1:52 PM / 4 years ago

Gazprom prices EUR900m five-year bond at par

LONDON, July 17 (IFR) - Gazprom, the Russian state-owned gas producer, has priced a EUR900m five-year bond at par to yield 3.7%, according to one of the lead managers.

Final terms, which translate into a spread of 262.5bp over mid-swaps, came at the tight end of revised guidance of 3.75% area (plus or minus 5bp) and tight to initial price thoughts of 4%-4.125% announced on Wednesday morning.

The final order book on the issue, which is rated Baa1/BBB/BBB, settled at EUR4.7bn, after swelling to over EUR5.5bn earlier in the bookbuilding process.

Bank of America Merrill Lynch, Deutsche Bank, Gazprombank and JP Morgan are the lead managers on the transaction. (Reporting by Davide Scigliuzzo; Editing by Sudip Roy)

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